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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.30%
7-Year
6.00%
10-Year
5.80%

Income 150+ SE 7

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Highlights

Income 150+ is a single premium fixed index annuity designed with a guaranteed lifetime withdrawal benefit which provides income through guaranteed Lifetime Annual Payments that clients cannot outlive (assuming no excess withdrawals). 
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY
Type
Fixed Index
Purpose Lifetime Income
Term
7 Years
Surrender schedule
8%8%7%6%5%4%3%
Free withdrawal
10%
Market value adjustment
Return of premium
Launch date
08/27/2018
Minimum contribution
$10,000
Maximum contribution
$1,000,000
Max Age Qualified
85
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and TSP
Brochure
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Find out if the Income 150+ SE 7 is the right product for you.

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Premium Notes

Premium amount 
  • $10,000 minimum premium 
  • $1,000,000 maximum premium for ages 55-80 (as measured by total contribution per person for all annuities with the company) 
  • $500,000 maximum premium for ages 81-85 (as measured by total contribution per person for all annuities with the company) 

Note: TSP funds have to be rolled into an IRA.

Withdrawal Provisions

Withdrawal
  • Up to 10% of the beginning-of-year contract value may be withdrawn annually without incurring a withdrawal charge. Withdrawal charges apply to amounts withdrawn in excess of the free withdrawal amount during the withdrawal charge period. 
  • Any Required Minimum Distribution (RMD) imposed by the IRS on this contract Withdrawals taken prior to beginning income benefits and those greater than the GLWB amount will reduce the Withdrawal Base and Lifetime Annual Payment amount. The reduction will be proportionate to the resulting reduction in the contract value, which may reduce the Withdrawal Base by more than the amount withdrawn. 
Market Value Adjustment (MVA)
Market Value Adjustment refers to the potential fluctuation of the surrender value of the annuity in response to market conditions. Applies during the withdrawal charge period on withdrawals in excess of the free partial withdrawal amount. The MVA also applies to annuitization during the withdrawal charge period when a withdrawal charge would also apply.

Guaranteed Lifetime Withdrawal Benefit GLWB
The GMSV is equal to the Premium Payment less withdrawal proceeds. If GLWB income activation has not occurred, the GMSV is used for determining the following after the withdrawal charge period when greater than the contract value: 
  • Death Benefit
  • Surrender value
  • Contract value for annuitization purposes 
Death Benefit
Remaining contract value passes to beneficiaries at no additional charge. 

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2.5% Fixed
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
4.25% Cap
2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Biennial
90% Participation
1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Annual
60% Participation
2-Year Franklin US PTP Participation Rate
Point to Point
Biennial
90% Participation
1-Year Franklin US PTP Participation Rate
Point to Point
Annual
60% Participation
2-Year PIMCO Balanced PTP Participation Rate
Point to Point
Biennial
130% Participation
2-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Biennial
90% Participation
1-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Annual
60% Participation
1-Year BlackRock Diversa Volatility Control PTP Cap
Point to Point
Annual
7.75% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
4.25% Cap
1-Year PIMCO Balanced PTP Participation Rate
Point to Point
Annual
90% Participation
2-Year Franklin US PTP Spread
Point to Point
Biennial
2% Spread
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
3.75% Performance triggered
1-Year Fixed Account
Fixed
2.75% Fixed
2-Year PIMCO Balanced PTP Participation Rate
Point to Point
Biennial
140% Participation
2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Biennial
100% Participation
1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Annual
70% Participation
2-Year Franklin US PTP Participation Rate
Point to Point
Biennial
100% Participation
1-Year Franklin US PTP Participation Rate
Point to Point
Annual
70% Participation
2-Year Franklin US PTP Spread
Point to Point
Biennial
1% Spread
2-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Biennial
100% Participation
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
4.5% Cap
1-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Annual
70% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
4.5% Cap
1-Year BlackRock Diversa Volatility Control PTP Cap
Point to Point
Annual
8% Cap
1-Year PIMCO Balanced PTP Participation Rate
Point to Point
Annual
100% Participation
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
4% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 8% 8% 7% 6% 5% 4% 3%

Riders

Name Inbuilt Fee
Income 150+ Guaranteed Lifetime Income Benefit Plus Yes 1.05% annually

Waivers

Nursing Home

Unavailable in states: CA

At any time on or after the Issue Date of the policy, if you should become confined to an approved nursing facility for at least 90 consecutive days, withdrawal charges and MVA on any portion of the contract value withdrawn will be waived. The nursing home waiver does not include home health care.

Terminal Illness

Unavailable in states: CA

If you have been diagnosed with a terminal illness after the first contract anniversary, withdrawal charges and MVA will be waived on any portion of the contract value withdrawn.

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